GAM has hired Randel (Randy) Freeman who joins the firm today (8 July) to co-lead buildout of GAM Alternatives capability to meet "increasing investor demand".

In a statement on 8 July, GAM said he will work closely with Albert Saporta as co-head/co-CIO of its new specialist alternative investments unit: GAM Alternatives (GAMAlts).

Freeman has over 30 years of experience in the global hedge fund investment management industry, having managed a range of alternative investment funds and managed accounts during his career.

From 2017 to 2023, he was a member of the Investment Committee of SSVL Monaco, a Monaco based activist fund focused on small and mid-cap European companies.

Between 2014 to 2016, he was the CIO of the Fortress Centaurus Global Fund. In 2000, Freeman co-founded Centaurus Capital, a multi-billion dollar hedge fund group with AUM at its peak of $5bn, where he served as CEO and CIO until 2014 when the business was sold to the Fortress Investment Group.

Prior to this, he was co-head of the Risk Arbitrage division at Banque Paribas in London and an associate at Goldman Sachs in New York.

He is a CFA Charter holder and has an MBA from the University of Chicago, CFA UK Level 4 Certificate in ESG investing, a Chartered Alternative Investment Analyst (CAIA) and a Certificate in Advanced Responsible Investment Analysis from PRI Academy. Randy holds American/British/Swiss nationalities.

As a complement to GAM's existing strong investment capabilities across equities, fixed income and multi-asset strategies, the building out of GAM Alternatives, a new alternative investments platform, presented "a strategic opportunity to meet growing investor demand, differentiate our offerings, and leverage our active management strengths and expertise. By addressing the following key considerations, we can expand our product suite, attract new investors, and position our firm for sustained growth in a dynamic market":

• Growing Demand: Investor interest in alternative investments is surging, with retail investors now seeking access to alternative investments. Preqin forecasts the global alternative assets market to grow to $24.5 trn by 2028;

• Product Access: Leveraging GAM's brand and expertise in active management, our partnership approach, and robust operating model, we can overcome high industry barriers and provide clients with access to niche alternative strategies; and

• Retail Opportunities: Private investors are under-weight in alternatives due to limited access, as this asset class has been typically available mainly/primarily to institutional investors. By creating evergreen, semi-liquid structures, and evolving fund regimes, we can significantly grow this retail segment.

Elmar Zumbuehl, CEO of GAM, said: "GAM has a 40-year history of providing clients with access to innovative alternative asset classes for wealth and institutional investors. As demand for active portfolio diversification and alpha generation grows, we are excited that Randy Freeman joins us as Co-head of our Alternative Investments capabilities, reigniting our founding DNA in alternative investing and complementing our already strong set of High Conviction Equity, Specialist Fixed Income and Multi-Asset Investment solutions."